Tuesday , October 8 2024
Home / Altcoins / Ripple Price Analysis: More Gains Possible Above $0.47

Ripple Price Analysis: More Gains Possible Above $0.47

Summary:
Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Ripple price started a downside correction from the %excerpt%.4700 zone against the US dollar. The price is now trading above %excerpt%.44 and the 55 simple moving average (4 hours). There was a break above a key contracting triangle with resistance near %excerpt%.430 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase above the %excerpt%.4700 resistance. Ripple price is consolidating near %excerpt%.452 against the US Dollar, similar to Bitcoin. XRP price must stay above the %excerpt%.440 support to remain in a bullish zone. Ripple Price Analysis This past week, Ripple price saw a decent increase

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics

Bhushan Akolkar writes Cardano Investors Continue to Be Hopeful despite 11% ADA Price Drop

Bena Ilyas writes Stablecoin Transactions Constitute 43% of Sub-Saharan Africa’s Volume

Chimamanda U. Martha writes Crypto Exchange ADEX Teams Up with Unizen to Enhance Trading Experience for Users 

Ripple Price Analysis: More Gains Possible Above $0.47

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up
  • Ripple price started a downside correction from the $0.4700 zone against the US dollar.
  • The price is now trading above $0.44 and the 55 simple moving average (4 hours).
  • There was a break above a key contracting triangle with resistance near $0.430 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh increase above the $0.4700 resistance.

Ripple price is consolidating near $0.452 against the US Dollar, similar to Bitcoin. XRP price must stay above the $0.440 support to remain in a bullish zone.

Ripple Price Analysis

This past week, Ripple price saw a decent increase above the $0.4250 resistance against the US Dollar. The XRP/USD pair climbed above the $0.432 resistance to move into a positive zone.

There was a break above a key contracting triangle with resistance near $0.430 on the 4-hour chart of the XRP/USD pair. The bulls even pumped the price above the $0.45 resistance. A high was formed near $0.4750 and the price recently corrected lower.

There was a move below the $0.470 and $0.465 levels. The bears pushed the price below the 23.6% Fib retracement level of the upward move from the $0.4187 swing low to the $0.4750 high.

The price is now trading above $0.44 and the 55 simple moving average (4 hours). It is trading above the 50% Fib retracement level of the upward move from the $0.4187 swing low to the $0.4750 high. On the upside, the price is facing resistance near $0.470.

The next major resistance is near the $0.4750 level. A close above the $0.4750 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.5000 resistance. Any more gains might send the price toward the $0.525 resistance.

Initial support on the downside is near the $0.451 level. The next major support is near the $0.4400 level. Any more losses could lead the price toward the $0.42 level, below which the price might even test $0.400.

Ripple Price Analysis: More Gains Possible Above $0.47

Ripple Price

Looking at the chart, Ripple’s price is now trading above the $0.44zone and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase above the $0.4700 resistance.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is near the 50 level.

Key Support Levels – $0.4510, $0.4400, and $0.4200.

Key Resistance Levels – $0.4700 and $0.4750.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *